Distressed Office Property Count Set To Shrink, More Loan Troubles in Downtown Philadelphia, Final Offers Being Reviewed for Florida Mall

Distressed Office Property Count Set To Shrink: The number of office properties backed by commercial mortgage-backed securities loans in special servicing moved slightly higher in November, increasing by just 1.1% after surging 13% the previous month. The number now stands at 762 buildings, according to CoStar data. The vacancy rate of that group of properties is 30%. Office buildings make up 31% of all property types in special servicing.